Australian court supports cryptocurrency as security for litigation costs

The Australian News Agency reported on Thursday that the New South Wales District Court had heard a defamation lawsuit, accepting the plaintiff's request for a $ 20,000 ($ 13,000) cryptocurrency account as a legal fee guarantee. But defendant lawyers point out that although cryptocurrency accounts can be evaluated in Australian dollars, this currency is a highly volatile investment. Judge Judith Gibson stated in a ruling issued earlier this week that cryptocurrencies are a generally accepted form of investment, but she is prepared for fluctuations in the value of cryptocurrencies. "To alleviate this concern, the plaintiff promised to provide the defendant's lawyer with a monthly account for the encrypted account," she said.